Portland, Maine: A Great Place to Retire for Your Health
An old city bounded by water, Portland offers a small-town feel with big-city amenities, like Maine Medical Center.
Located on a small peninsula in the Casco Bay, Portland offers city amenities with a small-town feel, says Harold Pachios, an 82-year-old lawyer who has lived in Portland most of his life. And while he can see the city changing right outside his office window, with new construction and cranes clouding his view, he says Portland is still safe and easy to get around. It’s one of 10 small or midsize cities we found that offer first-class health care.
Portland stats
Population: 66,900
What $300,000 will buy: 2-bedroom, 1 bath, 1,143-square-foot condo
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Best place to exercise: Back Cove Trail
5-star hospitals*: Maine Medical Center, Mercy Hospital
The Old Port area offers a blend of history and practicality, with a mixture of boutiques and restaurants on cobblestone streets that run down to a working waterfront. The Portland Museum of Art and Maine College of Art anchor the arts district, along with other galleries that are within walking distance.
“There’s always something interesting going on at the art college,” says Barbara DeSerres, 68. She and her husband, Kip, 70, moved to Portland from central Maine four years ago because they wanted to live near a walkable downtown and a hospital with an emergency room.
Maine Medical Center, which belongs to the MaineHealth network, boasts more than 600 beds. Mercy Hospital has 230 beds in three locations. At Mercy’s State Street and Fore River locations, all rooms are private. Services and specialties at both hospitals range from comprehensive cancer treatment to cardiac care to orthopedics.
Karen Jones, president of the Greater Portland Board of Realtors, says retirees who want to live close to downtown can expect to pay $600,000 or more for a newer luxury condo. Units in older buildings range from $350,000 to $500,000. If you’d rather rent, two-bedroom condos close to downtown go for about $2,600 a month.
Maine taxes are a mixed bag for retirees. Residents can deduct up to $10,000 in pension and retirement-account income from state taxes. But singles with taxable income of more than $50,000 and couples with income exceeding $100,100 pay the top tax rate of 7.15%.
Portland winters can be harsh, but for retirees seeking a break from the snow, Portland International Jetport is 15 minutes from downtown.
* Rating developed by the Centers for Medicare and Medicaid Services.
-
I'm 73 and hate winter, but I can't afford to be a snowbird.How can a snowbird wannabe warm up without the expense? We asked professional wealth planners for advice.
-
5 Smart Things to Do With Your Year-End BonusAfter you indulge your urge to splurge on a treat, consider doing adult things with the extra cash, like paying down debt, but also setting up a "fun fund."
-
Gen X Investors: Protect Your Portfolio From an AI BubbleAmid talk of an AI bubble, what's the best course of action for investors in their 50s and 60s, whose retirement savings are at risk from major market declines?
-
457 Plan Contribution Limits for 2026Retirement plans There are higher 457 plan contribution limits in 2026. That's good news for state and local government employees.
-
Medicare Basics: 12 Things You Need to KnowMedicare There's Medicare Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare — and much more.
-
The Seven Worst Assets to Leave Your Kids or Grandkidsinheritance Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.
-
SEP IRA Contribution Limits for 2026SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $70,000 in 2025, and up to $72,000 in 2026.
-
Roth IRA Contribution Limits for 2026Roth IRAs Roth IRAs allow you to save for retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2026 limits and income-based phaseouts.
-
SIMPLE IRA Contribution Limits for 2026simple IRA For 2026, the SIMPLE IRA contribution limit rises to $17,000, with a $4,000 catch-up for those 50 and over, totaling $21,000.
-
457 Contribution Limits for 2024retirement plans State and local government workers can contribute more to their 457 plans in 2024 than in 2023.
-
Roth 401(k) Contribution Limits for 2026retirement plans The Roth 401(k) contribution limit for 2026 has increased, and workers who are 50 and older can save even more.
